PANEL ONE: EMERGENCY FUNDS AND RISK
01.Core Concepts
MANAGEMENT HEALTH-RELATED RISKS (2 of 2) • Caring or providing support for ageing parents • Some clients will help ensure their parents are comfortable and safe as they age. • Providing a home, helping financially, or providing care • Expense for a parent are not likely to stop once the client reaches retirement age and will need to be factored in. • Untimely death • The retirement plan will need to be reviewed and adjusted for the surviving spouse. • Decisions should be made after a period of time to avoid “knee jerk” reactions. • Pension maximization • Joint-and-last-survivor annuities (default qualified plan distribution unless spousal waives) • Straight (or pure) life annuity with life insurance PANEL ONE: EMERGENCY FUNDS AND RISK MANAGEMENT PORTFOLIO-RELATED RISKS (1 of 4)